Berkadia Arranges Sale of Olympia Apartment Complex
TruAmerica Multifamily has purchased the 156-unit Dakota Apartments, a garden-style multifamily community in Lacey, WA. Berkadia Senior Directors Ben Johnson and David Sorenson led the team that represented the seller, American Capital Group. Berkadia also secured acquisition financing on behalf of the buyer.
Located at 6205 Pacific Avenue, about six miles outside of the state capital of Olympia, WA., the Dakota Apartments offer one- and two-bedroom units, up to 1,089 square feet. The community is situated closed to Saint Martin’s University, Providence St. Peter Hospital and the Woodland Creek Golf Course.
“The Dakota Apartments offered investors with a rare opportunity to acquire a post-2000 construction multifamily property with a proven value-add potential, in a strong location that is projected to continue to grow. This asset is the ideal size, location and vintage for investors looking to expand their presence or plant a flag in the Pacific Northwest,” said Johnson.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.